Let's simplify what this means!
Your Shopping Habits Are Valuable: Kroger tracks what we all buy in their stores through methods like loyalty cards and online orders. They use this to create data sets that are highly valuable to retailers. That data also helps them deliver ads that are more relevant to you.
Data Reduces Waste: Imagine you are launching a new keto snack and want to deliver your ads to people who have purchased keto snacks, and/or weight loss foods, in the past. The data from grocery stores can significantly reduce your ad cost by reducing your audience size to these high-value targets.
Magnite Combines the Data and Inventory: Magnite is a Supply Side Platform (SSP) which means it curates inventory for digital buyers. It does this by negotiating rates and inventory access with publishers. Magnite's team then works with Demand Side Platforms (DSPs) to bring that access to buyers. In the most basic terms, Magnite is a middleman pairing inventory from publishers with data from Kroger.
This Isn't New: Walmart, Target & Amazon have been leveraging their shopper data for OTT for more than a year. Retail is usually a low-margin business and this allows these big-box stores to create a new revenue stream.
They're Not Sharing: These retailers know their data is highly valuable and, in most cases, will be treating shopper data as a valuable commodity. Amazon doesn't allow its first party data to be used except within its own DSP.
If you are marketing a retail product, in-store or direct-to-consumer, imagine how refined you can get with audience targeting using these retail data sets. Left Hand Agency can help you develop and test retail audiences and devise a refined omni-channel strategy to grow your sales.
Drop us a line so we can craft a plan perfect for your business goals!